XML 20 R6.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (58,968) $ (4,056)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 760 54
Share-based compensation 12,982 211
Gain (loss) on warrant remeasurement (4,026) 303
Provision for contract losses, net 33,766 0
Deferred income taxes (611) 0
Non-cash operating lease expense 428 51
Other non-cash operating activities 101 34
Changes in assets and liabilities:    
Receivables (9,693) (37)
Prepaid and other current assets (3,802) (201)
Other long-term assets (575) 0
Trade payables 154 275
Accrued expenses and other current liabilities 302 278
Contract liabilities 6,811 2,514
Operating lease liabilities (317) (51)
Other long-term liabilities 15 0
Net cash used in operating activities (22,673) (625)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (1,360) (162)
Purchases of available-for-sale investments (122,468) (27,634)
Maturities of available-for-sale investments 21,100 0
Net cash used in investing activities (102,728) (27,796)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from SAFE instruments, net of issuance costs of $18.2 thousand 0 73,173
Transaction costs paid related to the Business Combination with Athena (1,274) 0
Repayments on Paycheck Protection Program loan 0 (411)
Proceeds from exercise of stock options 209 214
Proceeds from exercise of common stock warrants 0 30
Net cash provided by financing activities (1,065) 73,006
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (126,466) 44,585
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF THE YEAR 191,581 18,334
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF THE YEAR $ 65,115 $ 62,919